HitPay, a payments platform serving small and medium-sized enterprises across Southeast Asia, has introduced the first phase of its CFO Stack. The initial release focuses on Virtual Accounts for business-to-business collections in Singapore and the Philippines. Businesses can now receive corporate bank transfers inside the same HitPay account they already use for customer payments.
Bringing B2B Collections Into One Dashboard
Virtual Accounts provide merchants with dedicated account details that corporate customers can use for bank transfers. When a transfer arrives, HitPay records the transaction in real time alongside card payments, PayNow or QR transactions, and payment links. This consolidated view is designed to reduce manual work when confirming incoming funds and reconciling payments against invoices.
The product is aimed at higher-value B2B transfers and carries a fixed fee per collection rather than a percentage-based charge. HitPay describes Virtual Accounts as a collection method rather than a bank account. Received funds flow into the merchant's available HitPay Wallet before being paid out to the linked external bank account on the normal payout schedule.
Virtual Accounts are live in Singapore and the Philippines under HitPay's existing regulatory licences. HitPay operates as a Major Payment Institution regulated by the Monetary Authority of Singapore and is a registered payment system operator with Bangko Sentral ng Pilipinas. Supported currencies, product availability and pricing differ depending on the market, and businesses should verify local terms with HitPay.
Addressing Finance Team Friction
HitPay supports more than 15,000 finance teams across Singapore, the Philippines and Malaysia. Research cited by the company indicates that around four in five businesses surveyed in Singapore reported overdue B2B invoices, with delays often tied to internal processes, approval cycles and invoicing issues. Virtual Accounts are intended to ease this burden as payment operations grow more complex.
Chief Executive Officer Aditya Haripurkar said growing businesses manage more than customer payments because they also collect from other businesses and must keep financial records accurate. He noted that SMEs have traditionally stitched these workflows together across different tools. CFO Stack is being built to bring more of these financial operations into one platform, starting with B2B collections.
As B2B payments across Southeast Asia become increasingly digital, finance teams are handling more collections, payables and reconciliation flows across disconnected systems. McKinsey notes that AI-powered agentic workflows are enabling deeper automation in payable and receivable processes. CFOs are also looking to monitor working capital in real time while reducing manual finance work.
Roadmap Extends Beyond Payment Acceptance
The second phase of CFO Stack will introduce BillPay, a tool for managing supplier invoices, approvals and payments within the same platform. A third phase is expected to cover payroll and spend management. These additions would extend HitPay from customer payment acceptance into more day-to-day finance workflows that small businesses currently handle in separate systems.
The launch positions HitPay as a more connected finance platform for SMEs that rely on multiple systems. Payment providers across Southeast Asia are increasingly seeking additional services around transaction processing as competition intensifies. HitPay's roadmap brings the company closer to accounting and finance-operations software while keeping payments at the centre of the experience for business users.
HitPay's first CFO Stack release gives SMEs a practical way to manage B2B collections within their existing payment environment. The fixed-fee structure and real-time reconciliation address common pain points for businesses receiving corporate bank transfers. With BillPay, payroll and spend management planned next, HitPay is signalling a broader ambition to unify more finance operations for growing companies in Southeast Asia.